ISLAMABAD – The federal government has proposed a major relief on import of items related to solar production in Pakistan.
Finance Minister Muhammad Aurangzeb revealed it as he presented the budget for fiscal year 2024-24 in the parliament. The move aims at encouraging renewable energy in the country and cut dependency on oil for power production.
The finance minister said the government aims at providing relief on the import of production plants, machinery, and raw materials used in manufacturing of solar panels, inverters and batteries.
The move will help government save precious foreign exchange reserves of the country.
Meanwhile, the federal government has proposed imposition of 18 percent standard rate tax on mobile phones of various categories.
The finance minister said that the standard tax would offer equal opportunities and create a balance in the market.
These are the reasons the government aims at imposing the 18% standard rate tax on various categories of mobile phones.
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